On 03/26/2015 1:12 PM, F. George McDuffee wrote:
On Wed, 25 Mar 2015 16:20:55 -0500,
wrote:

snip
The problem isn't per capita, it's whether there's sufficient GDP to be
able to service it or not.

There's a reason the PIGS are the one dragging down the world system
every time they near default.
/snip

IMNSHO the problem goes far deeper than a few unfortunate
and/or venal countries, but rather is a systemic problem of
the new integrated *DEBT BASED* global socioeconomy.

....

I disagree with much but am not going to prolong this further...and
interesting read the illustrates that the problem has been around much
longer than the Viet Nam war era...

http://www.historytoday.com/matthew-lynn/greek-economics-drachmas-debt-and-dionysius

But it gives background on why Greece, in particular, is such a mess...

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